Middle East ETF News Older than One Year
Bahran Bourse buoyant on bank gains
November 11, 2012--The Bahrain All-Share Index gained 0.40% Sunday, finishing at 1,072.87 points.
Islamic bank Gulf Finance House surged 4%, while its rival Al Baraka Banking Group surged 3.11%. Earlier in the day, Al Baraka said its that it has achieved a net income of $183m in the first nine months of 2012, an increase of 10% on the net income achieved in the first nine months of 2011. "Similarly, statement of financial positions witnessed good increases," the bank added. Total assets increased by 7%, investments and financing portfolio by 13%, deposits by 7% and total equity by 7% as at the end of September 2012 as compared with the end of December 2011, Al Baraka said in a statement to the Manama-based exchange in its home market Bahrain and to the NASDAQ Dubai.
Source: AME Info
NBAD Enhances Region First ETF
November 11, 2012--The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, will implement enhancements to the region's first exchange trade-fund (ETF), the NBAD OneShare Dow Jones UAE 25 ETF (1UAE), all of which are in step with advances in the industry.
The enhancements to the ETF, which resulted from consultations with regional and international investors, brokers, and authorised participants, will shift the benchmark provider to MSCI UAE IMI 10/40 Index from Dow Jones UAE 25 Total Return Index (Local); and will also move to physical replication from swap based replication.
Source: Gulf Base
Moody's maintains Kuwait credit rating
November 8, 2012--Credit ratings agency Moody's Investors Services has said political unrest in Kuwait is unlikely to affect its strong credit fundamentals, maintaining the Gulf country's 'Aa2' rating with a 'Stable' outlook, AFP has reported.
"The recent escalation in political protests in Kuwait is not, in our view, likely to affect the government's very strong credit fundamentals,” Moody's said. "In our view, a credit-negative situation could only develop if there were a severe turn for the worse in Kuwait's political and social stability that would paralyse government fiscal operations or undermine domestic financial system stability,” it said. "At this juncture, we consider such an outcome unlikely.”
Source: AME Info
Gulf Warehousing rises, reaches out to Algeria
November 8, 2012-The Qatar Exchange Index closed even at 8,572.75 points.
Shares of Gulf Warehousing Co. advanced 0.73% to reach QR41.30. Earlier in the day, the logistics firm said it reached an agreement with the Algerian Agency for real estate brokers to establish a logistics village project in the North African country, which celebrates an economic comeback amid rising revenues from oil and gas exports. The total area of these sites almost 4.5 million square meters. Under the memorandum, Gulf Warehousing Company would own a 49% stake in the joint company's capital, which will be established after the signing of the final later, the firm said in a statement to the Qatari stock market.
Source: AME Info
Kuwait's telecom giant Zain gains on R&D announcement
November 8, 2012--The Kuwait Stock Exchange (KSE) Market Index advanced 0.80% to close at 5,772.17 points Thursday.
Gulf Bank of Kuwait jumped 3.80% to KD0.410. Earlier in the day, National Bank of Abu Dhabi's research said the Kuwait banking sector assets were $166.4bn (+8.9% year-on-year, +0.1% month-on-month) in September. Loans and advances were up by +0.5% month-on-month and up by +5.3% year-on-year to $97.8bn. Mobile Telecommunications, known as Zain Group, surged 2.70% to KD0.760. The National reported earlier in the day that Zain plans to invest $5.5bn in research and development over the next five years in order to develop mobile internet connections that run 10 times faster than current technologies, citing Hisham Akbar, the deputy chief executive and chief operating officer of Zain. Year-to-date, Zain has lost 12% of its valu
Source: AME Info
Etisalat saves Abu Dhabi bourse from plummeting
November 8, 2012--The ADX General Index declined 0.10% to 2,647.39 points Thursday.
While merger candidates Aldar Properties and Sorouh Real Estate by 2.27%, market bellwether Etisalat added slightly. Dana Gas, the most actively share by volume fell 2.33%. Some 83.8m shares were traded, valued at Dhs92m.
Source: AME Info
Tadawul bourse has 7,000 points in sight
November 7, 2012--Buying power remained solid in Riyadh Wednesday as the equity benchmark index Tasi rose the fifth day straight and closed 0.33% higher at 6,941.97 points.
Shares of Kingdom Holding Company, whose majority is owned by Saudi prince and global investor HRH Prince Al-Waleed Bin Talal Al Saud, gained the most, gaining 9.32% to reach SR17.00. Profit takings in the insurance segment prevented the Riyadh-based gauge to rise towards 7,000 points.
Source: AME Info
FTSE NASDAQ Dubai UAE 20 Index adds value for the fourth consecutive day
November 7, 2012--The FTSE NASDAQ Dubai UAE 20 Index closed up 0.31% at 1815.23 points Wednesday.
The index tracks 20 liquid stocks listed on DFM, the Abu Dhabi Securities Exchange and NASDAQ Dubai.DP World shares rose to a 17-month high at $13 (4% higher).
Source: AME Info
Bahrain gains the fourth day straight
November 7, 2012--The Bahrain All-Share Index added 0.33% Wednesday to finish at a three-week high at 1,066.20 points.
Al Barak Banking Group surged 7.80% to $0.83. Al Salam Bank fell 4.55% to close at BD0.042.
Source: AME Info
Qatar National Bank appoints banks for issuance of dollar bonds
November 7, 2012-The Doha-based Qatar Exchange Index closed unchanged at 8,570.30 points Wednesday.
The country's largest lender by assets Qatar National Bank, known as QNB, closed unchanged at QR133.80. In a statement to the exchange, QNB said it has appointed Deutsche Bank, HSBC, Mitsubishi UFJ Securities International, QNB Capital and Standard Chartered Bank joint lead managers to arrange fixed income investor meetings on behalf of QNB Group. A USD benchmark offering under the bank's Euro Medium Term Note Program may follow subject to market conditions. In November 2011, QNB established a $7.5 billion euro medium term notes programme.
Source: AME Info
If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
